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president obama said a deal was in sight, but he slammed congress for stalling and for failing to reach a broader agreement. sources say the senate will try to vote tonight. we're not going to have a house vote tonight because the house has already adjourned until tomorrow, noon eastern time, which means we will not be able to solve this problem fully tonight if it gets solved at all. that's still not entirely clear. let's go to jessica yellin. if you've been watching over the last several hours, you get conflicting information. is there a deal or not? >> the white house is optimistic there will be a deal. republicans in the senate are confident there will be a deal. senate democrats are still holding out for more changes in this deal. and so right now, there's still that last haggling over certain sticking points that democrats want to see in this negotiation. and it's one of the reasons we understand that vice president biden is set to go up there. now, that's once the deal is done and sealed. the reason the vice president would go up there, it's to sort of sell the deal, basically, a
president obama said a deal was in sight, but he slammed congress for stalling and for failing to reach a broader agreement. sources say the senate will try to vote tonight. we're not going to have a house vote tonight because the house has already adjourned until tomorrow, noon eastern time, which means we will not be able to solve this problem fully tonight if it gets solved at all. that's still not entirely clear. let's go to jessica yellin. if you've been watching over the last several...
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any deal would have to get enough votes to pass the senate and the house. president obama says sandy hook school shooting was the worst day of his presidency. americans will have to explore their own feelings when his gun law reform proposals come out next year. >> the question then becomes, whether people are actually shook up enough by what happened here, that it does not become another one of these routine episodes where it gets a lot of attention for a couple weeks and then it drifts away. it certainly won't feel like that to me. >> the president says the law he's pushing will address assault style rifles, high capacity magazines and background checks. >>> the fiscal cliff, it's not the only deadline pressing on congress. a five-year farm subsidies bill that expired in september was never renewed. house and senate members did come up with a short term extension to prevent prices from going through the roof in january. >>> a bus crashed today in oregon killing nine people. it happened on this icy stretch of interstate. the bus skidded on the ice, left th
any deal would have to get enough votes to pass the senate and the house. president obama says sandy hook school shooting was the worst day of his presidency. americans will have to explore their own feelings when his gun law reform proposals come out next year. >> the question then becomes, whether people are actually shook up enough by what happened here, that it does not become another one of these routine episodes where it gets a lot of attention for a couple weeks and then it drifts...
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what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is politically the big winner here. he got what he wanted with the tax cuts. he got what he wanted with the estate tax and other issues and the sequester delay. so i just think that the president working with senator mcconnell, who did a very good job with his conference in the senate, that they all look good. we have to see if we can do our job in the house. that's still to come today. >> congressman, thank you very much. happy new year and good luck going forward. >> i appreciate it. thank you. >>> coming up, the senate agrees to the fiscal cliff deal, but
what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is...
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that's what you'd expect to come from president obama. but we're also -- we sort of said tonight is the deadline and that's true because a lot of the tax cuts expire at midnight. the sense we're getting from a lot of sources and from members of congress is that perhaps tonight isn't a hard and fast deadline. mitch mcconnell and the vice president are negotiating in earnest to find a deal. but it's sort of difficult to see how exactly that may come to be by midnight and have votes in the senate and house. the thought is that going over the cliff gives cover for some democrats and certainly some republicans. there will be a lot more pressure after the cliff comes to be to put a solution in place. even after midnight were to come and go, we would see them wo working towards an agreement, e we would expect. >> politicking around a cliff that was always meant to be sort of the suicide that would never be. john avalon said, congress is raising to diffuse a time bomb that congress wired. >> reporter: that's true. the thing is, and we will contin
that's what you'd expect to come from president obama. but we're also -- we sort of said tonight is the deadline and that's true because a lot of the tax cuts expire at midnight. the sense we're getting from a lot of sources and from members of congress is that perhaps tonight isn't a hard and fast deadline. mitch mcconnell and the vice president are negotiating in earnest to find a deal. but it's sort of difficult to see how exactly that may come to be by midnight and have votes in the senate...
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congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working
congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama...
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this deal hikes taxes on incomes over $450,000. i don't think it's a good deal but it's better than $250,000. they wanted a bigger hike in the estate tax, the inheritance tax, they're not getting that, and the spending fight is pushed off until later. largely, this is a win for republicans and there are some liberals in the democratic senate caucus who want to rebel and biden is coming in to try to calm them down. >> hold on for a second. jessica yellin is at the white house. she's getting more information as well. what are you learning? >> hi, wolf. it's my understanding there is a deal among the principles in this negotiation. and they have reached their fundamental agreement. all that's left now is to get the democratic caucus briefed on it and informed about the particulars. they won't formally announce that there is a deal until they have briefed the democratic caucus and let them know exactly what's in it. my understanding is that the vice president is not yet headed up there just at this moment, but he's heading there shortl
this deal hikes taxes on incomes over $450,000. i don't think it's a good deal but it's better than $250,000. they wanted a bigger hike in the estate tax, the inheritance tax, they're not getting that, and the spending fight is pushed off until later. largely, this is a win for republicans and there are some liberals in the democratic senate caucus who want to rebel and biden is coming in to try to calm them down. >> hold on for a second. jessica yellin is at the white house. she's...
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in his first sunday talk show appearance in three years, president obama today called for congress to at least extend middle class tax cuts and unemployment benefits if no fiscal deal is reached. tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight inches and the city's mayor has declared a snow emergency. neighboring rhode island is also getting pounded over a foot of snow has already fallen in some parts of that state. >>> some good news this morning about former president george h.w. bush. we're told he is improving and has been moved out of the intensive care unit of the houston hospital where he was being treated for an elevated fever. the 41st president has b
in his first sunday talk show appearance in three years, president obama today called for congress to at least extend middle class tax cuts and unemployment benefits if no fiscal deal is reached. tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the...
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mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i don't know. i feel like they need to step up and make a compromise. with obama it's like a mandate, with the taxing the wealthiest americans, if he's elected which by a landslide, maybe they need to catch up and form and modernize the party. >> reporter: how much does the political posturing, how is that to watch this churn day after day for the past several days? >> it's rough. i was watching yesterday when the president spoke, hoping maybe they had come to some point. hearing him say we're close but not there yet, it's like these are things that directly affect americans and if this is your job, this in is why we elect you, it
mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i don't know. i feel like they need to step up and make a compromise. with obama it's like...
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that obama was cutting. i think that's why you saw obama make that statement. >> he was speaking to democrats. >> he was speaking to the base saying i am on the precipice of getting republicans to vote for a tax increase. they never, ever do that. give me some credit here. now, he did move his red line on the threshold for upper income tax hikes. he moved it from $250,000 to $400,000. the revenue is important. whether you get that from income tax rates or other taxes, it doesn't matter. the key is the overall revenue. and this whole battle here is about a revenue piece. >> you reduce the revenue from about $800 billion over ten years to what? $500 billion or something like that? >> that's right. or what they've done on limiting the deductions. that's another part of this that's going to raise more money. it's not going to make up for all that's lost on the changing the threshold, but there are other pieces on this. >> we're going to ask you to stick around. thank you very much. ali of course is with us throu
that obama was cutting. i think that's why you saw obama make that statement. >> he was speaking to democrats. >> he was speaking to the base saying i am on the precipice of getting republicans to vote for a tax increase. they never, ever do that. give me some credit here. now, he did move his red line on the threshold for upper income tax hikes. he moved it from $250,000 to $400,000. the revenue is important. whether you get that from income tax rates or other taxes, it doesn't...
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with only hours to go, president obama says a deal between democrats and republicans is, quote, within reach as america ticks closer to the fiscal cliff at midnight. >> they are close, but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you're supposed to do, they will use that last second. >> duown to the wire. if you thought the fiscal cliff snuck up on congress, the debt ceiling bill that triggered this to begin with was signed into law in 2011. we have known from that day forward this day would be upon us if nothing was done. and everyone in congress has known all along what it would take to avert the blanket tax hikes and spending cuts that are mandated to start in the new year. how much time is that, by the way? 517 days, or you can call it one year, four months and 29 days, or 73 weeks or 12,408 hours. you get the point. your political leader is engrossed in a colossal waste of time. the tax cuts were enacted for ten years starting in 2001 and then extended in 2010 for another
with only hours to go, president obama says a deal between democrats and republicans is, quote, within reach as america ticks closer to the fiscal cliff at midnight. >> they are close, but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you're supposed to do, they will use that last second. >> duown to the wire. if you thought the fiscal cliff snuck up on congress, the debt ceiling...
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, trying to strike a deal with just four days to go. getting lost in the rhetoric are everyday americans like my next guest, she says washington needs to know how important the fiscal cliff is to those who are out of work, specifically to the 2 million americans who will lose their federal unemployment benefits an average of about $300 a week if no deal is reached. >> good morning. >> you were laid off a year ago. tell us your story. >> well, yes, i was laid off a year ago around this time in december. and i received employment so i've been trying to look for a job which has been very difficult, on the internet every day. i also tried to start my own small business in the same field, janitorial services, which the whole thing of not having any money has caused a great hardship because i'm unable now to finance my business as well or get a small business loan because i don't have a job. >> $300, i just want to jump in, i apologize for cutting you off $300 a week doesn't get you very far to the point of financing a business. how much did
, trying to strike a deal with just four days to go. getting lost in the rhetoric are everyday americans like my next guest, she says washington needs to know how important the fiscal cliff is to those who are out of work, specifically to the 2 million americans who will lose their federal unemployment benefits an average of about $300 a week if no deal is reached. >> good morning. >> you were laid off a year ago. tell us your story. >> well, yes, i was laid off a year ago...
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we're less than 14 hours from toppling over the edge if lawmakers can't hammer out a deal. the senate is returning to session in 60 minutes from now. president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. >> we're following the last-minute drama to avoid anything bad happening here. dana bash is covering the urgent talks in washington. ali velshi gives us the bottom li line. and alison kosik is on wall street watching how worried investors are reacting this hour. dana, we want to begin with you. we are hearing there might have been some progress overnight. >> a lot more optimism being expressed from sources in both parties. mitch mcconnell who the
we're less than 14 hours from toppling over the edge if lawmakers can't hammer out a deal. the senate is returning to session in 60 minutes from now. president obama is modestly optimistic negotiations can prevent the tax hikes and spending cuts from kicking in. >> we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay...
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we think there will be a deal. some say they think there will be a vote. some say they think we're going over the cliff. listening to president obama in a rare sunday show interview yesterday, he's obviously making it known, if we do go over the cliff, he is prepared to point the finger at republicans. here's what he said. >> all right. so we're struggling to bring you that sound, but basically he was saying that republicans are trying to protect the wealthy when it comes to taxes. and to that point, ali, we do have new information about where the proposal stands at this point according to democratic sources. they have actually gone up to saying $450,000, the first $450,000 of income, that would be protected from a tax increase. so that's higher, obviously, than what the president's starting point was, which was $250,000, and even higher than where he ended in his sort of discussions with speaker boehner about a larger deal. he was at 400 there. obviously, republicans want higher than that. we'll see where that number comes out. >> it's valid to say someth
we think there will be a deal. some say they think there will be a vote. some say they think we're going over the cliff. listening to president obama in a rare sunday show interview yesterday, he's obviously making it known, if we do go over the cliff, he is prepared to point the finger at republicans. here's what he said. >> all right. so we're struggling to bring you that sound, but basically he was saying that republicans are trying to protect the wealthy when it comes to taxes. and to...
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and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated potentially you could get. >> they can't let us continue on the fiscal -- we've gone over the fiscal cliff. >> unemployment could go from 7.75% to 7.95%. >> the white house tried to do a grand bargain with boehner and revenue piece that's been kicked back to the house and the house is saying, forget it, forget it, we want these spending cuts, too. so everyone has to be in a room negotiating this thing. >> ryan, thank you. >>> the vice president joe biden has just weighed in on the confusion in the house of representatives. what is he saying? stand by. jessica yellin is over at the white house. 315 hor
and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated...
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president obama plans to submit gun control legislation to congress in 2013. that will deal with assault weapons specifically, as well as background checks on gun sales. as you might realize, it's spurred on by the school massacre in newtown, connecticut, killed 20 children and 6 adults. murdered his mother and killed himself. speaking yesterday on "meet the press," the president says something has to fundamentally change in this country. that newtown shootings cannot feel like what he called a routine episode. >> that was the worst day of my presidency, and it's not something that i want to see repeated. >> vice president joe biden is leading a task force that will submit legislative proposals to the president in january. >>> also, happy new year, new zealand. auckland. and the start of 2013 with the fireworks display from sky tower, tallest free standing structure in the southern hemisphere. >> and as auckland rings in the new year, preparation under way in times square. heart of new york city, coming up next. >> and more from washington for you. >> my messa
president obama plans to submit gun control legislation to congress in 2013. that will deal with assault weapons specifically, as well as background checks on gun sales. as you might realize, it's spurred on by the school massacre in newtown, connecticut, killed 20 children and 6 adults. murdered his mother and killed himself. speaking yesterday on "meet the press," the president says something has to fundamentally change in this country. that newtown shootings cannot feel like what...
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president obama is coming back to washington to try to reach a deal on avoiding the fiscal cliff. he now has less than a week until automatic tax hikes and sending cuts go into effect and the way out of this mess isn't clear. here's our senior congressional correspondent, dana bash. >> lisa, house republican leaders who are home for christmas held a conference call this afternoon to talk about when the house should come back in session. two gop sources tell me they did not make a decision. it's still up in the air. a reason for that is, if anything can get done in the next six days, the ball is in the senate's court. >>> the capital is a ghost town. the halls are empty, neither chamber in session. an eerie calm, since the fiscal cliff, only the congress has the power to avert, is less than one week away. at their homes for the holiday, the senate democratic leaders are trying to figure out if the president's scaled back bill, keeping middle class tax cuts in place, can pass congress at the 11th hour. >> there is absolutely no reason, none, not to protect these americans from a tax
president obama is coming back to washington to try to reach a deal on avoiding the fiscal cliff. he now has less than a week until automatic tax hikes and sending cuts go into effect and the way out of this mess isn't clear. here's our senior congressional correspondent, dana bash. >> lisa, house republican leaders who are home for christmas held a conference call this afternoon to talk about when the house should come back in session. two gop sources tell me they did not make a...
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if nobody is interested in getting this deal? >> as dana pointed out, lots of house republicans would rather vote on something after the 1st than before. i haven't seen any indication from obama or the people around him that they are okay with going over the cliff. they really do seem to want to do something before the deadline. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehner is to do something. >> reporter: i think that you're right when i said that democrats don't think that the president will have much political damage. that does seem to be coming more from democrats here in congress than in the white house. democ
if nobody is interested in getting this deal? >> as dana pointed out, lots of house republicans would rather vote on something after the 1st than before. i haven't seen any indication from obama or the people around him that they are okay with going over the cliff. they really do seem to want to do something before the deadline. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that...